Industry City owners apply for rezoning with Amazon in its sights

Complex could increase to 6.6M sf

September 27, 2017 09:20AM

Andrew Kimball and Industry City

Industry City’s owners applied for a rezoning that could grow the Sunset Park office-and-manufacturing complex from 5.3 million to 6.6 million square feet and include space for an educational institution.

Jamestown, Belvedere Capital and Cammeby’s International are planning a $1 billion redevelopment that would be complete by 2027, Politico reported. The requested rezoning would include 271,619 square feet of hotel and 386,546 square feet of educational space.

“We could fit a significant portion of the square footage, and we think that the track record that we have at a small scale at creating an ecosystem … would be attractive to a company like Amazon,” he said. “Obviously, through the rezoning, we can do that in a much, much bigger scale.”

The complex’ vacancy rate is still 25 percent, despite $225 million in investment in recent years.

Amazon recently announced that it is looking for a home for its planned second headquarters, but New York City faces long odds because of its cost of living. [Politico] — Konrad Putzier